THE VIRGINIAN-PILOT
Copyright (c) 1994, Landmark Communications, Inc.
DATE: Sunday, September 25, 1994 TAG: 9409230020
SECTION: COMMENTARY PAGE: J4 EDITION: FINAL
TYPE: Letter
LENGTH: Short : 42 lines
Virginia is one of very few states with a AAA bond rating, largely because of its traditional pay-as-you-go philosophy and careful avoidance of excessive public debt.
This cherished and valuable tradition may be in danger. Gov. George F. Allen, like his idol, former President Ronald Reagan, seems to have a propensity for proclaiming ``no new taxes'' while suggesting debt as the way to pay for his promises and goals, thereby shifting the burden of payment to our children and grandchildren.
Gov. Allen proposed to abolish parole and spend from $850 million to $1 billion for new prison construction, with the promise that the rate of violent crime in Virginia will be reduced between 1 percent and 3 percent.
Sen. Hunter B. Andrews has wisely warned that the commonwealth's debt capacity is ``finite'' and that it must meet the needs of higher education, mental health, transportation and other state facilities.
Del. Robert B. Ball, the House Appropriations Committee chairman, has correctly suggested a 0.5 percent increase in the sales tax to help pay for prison construction. However, Gov. Allen, saying ``bonds are cost effective,'' has stated that he will veto any tax-increase proposal. Bonds are not cost effective!
The cost of the proposed prison construction will multiply from 2 1/2 to 3 times, to approximately $3 billion, if paid for with bonds.
It is vital that we let our governor and members of the General Assembly know that we, as responsible Virginians, still believe in ``pay as you go.'' Those who propose new expenditures should have the strength and integrity to levy taxes to pay the costs. We do not want Virginia public officials to purchase popularity and political position with public debt.
GLENN B. McCLANAN
Virginia Beach, Sept. 29, 1994
Mr. McClanan served 20 years in the Virginia House of Delegates. by CNB